The mogul’s move is necessary if he is to obtain certification as an agent in the National Basketball Players Association. Right now, Jay-Z owns less than a percentage of the team, but has been central to the public promotion of the business effort. Jay was also a cornerstone of the team’s move from New Jersey to Brooklyn. Still, he cannot represent individual players and an NBA team at the same time.

According to yahoo, Jay-Z’s Roc Nation Sports hopes to enter into the June NBA Draft, a move contingent on the equity sale. One source said. “This isn’t about one draft, but taking the long view of the business.”